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Registration number: 09077631

TKL Properties Ltd

Annual Report and Unaudited Abridged Financial Statements

for the Year Ended 30 June 2023

 

TKL Properties Ltd

Contents

Company Information

1

Abridged Balance Sheet

2 to 3

Notes to the Unaudited Abridged Financial Statements

4 to 6

 

TKL Properties Ltd

Company Information

Directors

L King

T King

Registered office

Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

Accountants

Ross + Partners
Chartered Certified Accountants
Suite 1B1 Argyle House
Northside
Joel Street
Northwood Hills
HA6 1NW

 

TKL Properties Ltd

(Registration number: 09077631)
Abridged Balance Sheet as at 30 June 2023

Note

2023
£

2022
£

Fixed assets

 

Tangible assets

3

175,000

170,000

Current assets

 

Debtors

200

200

Cash at bank and in hand

 

63,321

54,089

 

63,521

54,289

Creditors: Amounts falling due within one year

(177,830)

(177,284)

Net current liabilities

 

(114,309)

(122,995)

Total assets less current liabilities

 

60,691

47,005

Provisions for liabilities

(4,744)

(3,794)

Net assets

 

55,947

43,211

Capital and reserves

 

Called up share capital

200

200

Other reserves

24,970

19,970

Retained earnings

30,777

23,041

Shareholders' funds

 

55,947

43,211

For the financial year ending 30 June 2023 the company was entitled to exemption from audit under section 477 of the Companies Act 2006 relating to small companies.

Directors' responsibilities:

The members have not required the company to obtain an audit of its accounts for the year in question in accordance with section 476; and

The directors acknowledge their responsibilities for complying with the requirements of the Act with respect to accounting records and the preparation of accounts.

These financial statements have been prepared in accordance with the special provisions relating to companies subject to the small companies regime within Part 15 of the Companies Act 2006.

All of the company’s members have consented to the preparation of an Abridged Profit and Loss Account and an Abridged Balance Sheet in accordance with Section 444(2A) of the Companies Act 2006.

Approved and authorised by the Board on 20 February 2024 and signed on its behalf by:
 

 

TKL Properties Ltd

(Registration number: 09077631)
Abridged Balance Sheet as at 30 June 2023

.........................................
T King
Director

 

TKL Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

1

Accounting policies

Summary of significant accounting policies and key accounting estimates

The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all the years presented, unless otherwise stated.

Statement of compliance

These abridged financial statements have been prepared in accordance with Financial Reporting Standard 102 Section 1A smaller entities - 'The Financial Reporting Standard applicable in the United Kingdom and Republic of Ireland' and the Companies Act 2006 (as applicable to companies subject to the small companies' regime).

Basis of preparation

These abridged financial statements have been prepared using the historical cost convention except that as disclosed in the accounting policies certain items are shown at fair value.

Revenue recognition

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and provision of services in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.

The company recognises revenue when:
The amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity;
and specific criteria have been met for each of the company's activities.

Tax

The tax expense for the period comprises current and deferred tax. Tax is recognised in profit or loss, except that a change attributable to an item of income or expense recognised as other comprehensive income is also recognised directly in other comprehensive income.

The current income tax charge is calculated on the basis of tax rates and laws that have been enacted or substantively enacted by the reporting date in the countries where the company operates and generates taxable income.

Deferred tax is recognised in respect of all timing differences between taxable profits and profits reported in the financial statements.

Unrelieved tax losses and other deferred tax assets are recognised when it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits.

Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used.

 

TKL Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

Tangible assets

Tangible assets are stated in the balance sheet at cost, less any subsequent accumulated depreciation and subsequent accumulated impairment losses.

The cost of tangible assets includes directly attributable incremental costs incurred in their acquisition and installation.

Depreciation

Depreciation is charged so as to write off the cost of assets, other than land and properties under construction over their estimated useful lives, as follows:

2

Staff numbers

The average number of persons employed by the company (including directors) during the year, was 2 (2022 - 2).

3

Tangible assets

Land and buildings
£

Total
£

Cost or valuation

At 1 July 2022

170,000

170,000

Revaluations

5,000

5,000

At 30 June 2023

175,000

175,000

Depreciation

Carrying amount

At 30 June 2023

175,000

175,000

At 30 June 2022

170,000

170,000

Included within the net book value of land and buildings above is £175,000 (2022 - £170,000) in respect of freehold land and buildings.
 

4

Share capital

Allotted, called up and fully paid shares

 

TKL Properties Ltd

Notes to the Unaudited Abridged Financial Statements for the Year Ended 30 June 2023

 

2023

2022

 

No.

£

No.

£

Ordinary A of £1 each

100

100

100

100

B Shares of £1 each

100

100

100

100

 

200

200

200

200